The MercadoLibre Paradox
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Over the past five years, MercadoLibre has grown both revenue and profit dramatically — yet its stock price has gone nowhere. Could this be an opportunity?
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Rob MacDonald
Professional Roles: Thornburg Investment Management, Putnam Investments Education: MBA, The University of Chicago Booth School of Business Education: BA, Economics, Computer Science, Amherst College Certification: Chartered Financial Analyst
The MercadoLibre Paradox
What Investing Can Teach Us About March Madness
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We've officially entered my absolute favorite time of the sports calendar year. As millions of others around the country have done this past week, I sat down to fill out my bracket for the annual Van...
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Are Treasuries Still Safe?
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Since April, I've had a lot of conversations about whether Treasuries are still a viable safe haven investment. After “Liberation Day,” 10-year Treasuries sold off by ~50 basis points, creating a...
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The Morning Jerry Investor
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One of my favorite Seinfeld standup routines compared “Morning Jerry” or “Nighttime Jerry.” Well-rested Morning Jerry was rational and responsible; he made decisions that benefitted himself in the...
One Portfolio or Two?
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Why We Believe SMID Cap Core Can Beat Separate Small & Mid Allocations Many investors instinctively split their equity sleeve into a “small-cap fund” and a “mid-cap fund,” assuming that...
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Popping Tags
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At dinner the other night, my youngest daughter asked what I actually do all day in my office. I work from home pretty often, so from her perspective, I just disappear behind a closed door for hours...
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Hug an Economist
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Connor and I both majored in economics. We spent four years steeped in macro theory, poring over models of trade, labor, and monetary policy. Since then, we’ve found… let’s say, limited use for most...
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Learning to Love Binary Outcomes
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Around age 40, my annual checkup started including additional tests. These tests are meant to keep me healthy, but they also have the ancillary effect of stressing me out while I await the results....
The Last 10%
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9/10 is an exceptional mark in almost all applications. If a restaurant has a 9/10 on Yelp or Foursquare (yes, Foursquare is still an excellent restaurant rating app), it means the restaurant is...
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Long Term Investing—A Walk in the Park
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There’s a great metaphor that describes in pretty perfect detail how you should think about investing. It comes from Ralph Wanger, a legendary investor (as quoted in The Four Pillars of Investing):...
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Investing Tips from Beer-League Hockey
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Investing can be demanding. It can require some serious brain power… but more importantly, it’s a battle within yourself. It doesn’t matter how smart you are if you’re too emotional or too biased to...
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Grippy Mountain Bike Shoes
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Like many people during the pandemic, I decided to pick up a new hobby. With basically everything shut down, and the outdoors being one of the only relatively safe spaces available to us, my quest...
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The Wisdom of Crowds
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Our investment philosophy follows a fundamental belief — the stock market functions much like the classic jelly-bean-counting experiment. That might sound strange, but hear me out:
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Lessons From A Helicopter Parent
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Shrewd investors often start out with long-term financial plans designed to meet their future needs — things like saving for college, retirement, etc. But sticking with the long-term plan becomes...
Maintaining Balance In Your Equity Portfolio
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One of the things that makes City Different Investments, well, different is our principled investment approach. We are doing a series of articles looking at the three tenets of our equity investment...